Citigroup Inc. (NYSE:C) Shares Purchased by IFP Advisors Inc

IFP Advisors Inc boosted its position in Citigroup Inc. (NYSE:C) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,535 shares of the company’s stock after purchasing an additional 3,323 shares during the quarter. IFP Advisors Inc’s holdings in Citigroup were worth $3,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Core Alternative Capital grew its holdings in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup in the 3rd quarter valued at approximately $31,000. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the 4th quarter worth approximately $35,000. Webster Bank N. A. raised its position in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the period. Finally, Sierra Ocean LLC acquired a new position in Citigroup in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 1.5 %

Citigroup stock opened at $78.49 on Tuesday. The stock has a 50-day simple moving average of $76.94 and a 200-day simple moving average of $68.80. The company has a market capitalization of $148.44 billion, a P/E ratio of 13.19, a PEG ratio of 0.64 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. Equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its board has approved a share repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Insider Activity

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on C. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Morgan Stanley upped their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Evercore ISI lifted their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company raised their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.93.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.